China Financial News

Congress general secretary Sachin Pilot on Sunday said that Prime Minister Narendra Modi should have worked out a constructive solution during his last America visit rather than just indulging in «photo ops» and exchanging gifts. He said that at a time the world is responding to the imposition of reciprocal tariffs by the US, the Indian government is merely buying time and leaving everything to fate. In an interview to PTI, the former minister for Corporate Affairs said the Indian government is accepting what has been given out and has not even offered a response. «I would imagine, when the PM was in Washington (in February) and met the president of the US, instead of just photo ops and exchanging gifts, something more constructive should have come out of it,» Pilot said. «If our relations are as strong as the two leaders claim, then we would not have been slapped with these steep tariffs. Clearly our exports will be severely hit, manufacturing was in any way on a downside, MSMEs are in for a shock...The economy will face severe stress due to resulting layoffs and job losses but unfortunately we have not had an adequate response or even an indication of how to navigate this situation.» he said. The government was caught napping and it seems under US pressure to sacrifice Indian interests, he alleged.

reciprocal tariffs by the US on other competing nations raises the possibility of increased dumping by those nations in India, as well as in other export markets, which could negatively impact certain sectors, CareEdge Ratings said in a report. According to the report ' Sectoral Impact of US Reciprocal Tariff: Neutral to Negative, ' the expected direct impact of US reciprocal tariffs would vary, with no impact expected on pharmaceuticals since they are exempt from reciprocal tariffs for now. According to the rating agency, the impact is expected to be largely neutral for electronics, textiles, agricultural products, chemicals, and automobiles and parts. At the same time, it would be negative for gems and jewellery. During 2023-24, India's aggregate merchandise exports to the US stood at USD 77.5 billion compared to its imports from the US at USD 42.2 billion. Out of India's total exports to the US, the sectors in descending order of value are electronics, textiles, pharmaceuticals, gems and jewellery, agricultural products, chemicals and automobiles and parts.

“We have to be patient. Trade pacts do not happen overnight. It is a careful and steady process. Things are analysed carefully,” an official said on the condition of anonymity, adding that a slight impact on demand in the US could be a little challenging. India has “emerged a winner” following the reciprocal tariffs imposed by the United States, officials said, pointing out that the country has a first mover advantage compared to its competitors owing to of the Bilateral Trade Agreement (BTA) that the two are negotiating and because Indian exporters are better positioned to deal with the additional US tariffs. They said the country will take all measures within the World Trade Organization (WTO) framework to check dumping of goods from countries such as China which have been slapped with steeper tariffs. “The government is there to protect domestic industry from any possibility of dumping of goods in such a situation,” the official added. While the US has imposed 26% reciprocal tariffs on India, it has levied 34% additional import duties on China. India is also likely to gain from the US-China trade war, according to officials.

Subscribe to enjoy similar stories. WASHINGTON—President Trump is pressing for access to mineral rights across the globe, hoping to outduel China in a global competition for raw materials to fuel U.S. military and industrial might.

Subscribe to enjoy similar stories. Beijing spent the first months of President Trump’s second term trying—and failing—to figure out the new administration’s approach to China. Officials hoping to build lines of communication with Washington had no luck.

Subscribe to enjoy similar stories. He’s serious, and that’s seriously bad news for the stock market. President Donald Trump launched a major new phase in his trade war on Wednesday, imposing tariffs on nearly every country on the globe.

Subscribe to enjoy similar stories. Stocks have taken a beating—but this week may provide a more definitive direction for the coming months. All three major U.S.

RPG Group Chairman Harsh Goenka has stepped into the ongoing conversation around India’s startup culture and work ethic, aligning himself with two high-profile voices—Commerce Minister Piyush Goyal and Infosys founder N.R. Narayana Murthy. Goenka’s remarks, made via social media on 5 April, came in the wake of criticism directed at Goyal for questioning the direction of India’s startup ecosystem. The minister recently stirred a storm with his comments at the Startup Mahakumbh 2025. “When Murthy and Subrahmanyan spoke of 70-90 hour work weeks, and Piyush Goyal questioned startups making vegan ice creams and chasing 10-minute deliveries, they weren’t being literal—they were being directional. They were asking: what are we really building?” Goenka posted on X.

Subscribe to enjoy similar stories. New Delhi: India will refrain from taking retaliatory action against the US’ reciprocal tariffs or making sharp public responses against Washington, keeping trade diplomacy at the centre of its strategy, a senior government official said. As a global tariff war unfolds in response to US President Donald Trump’s additional tariffs on more than 60 nations, India is taking a calm and measured approach, positioning itself as a balanced negotiator, the official said.

Such conflicts, after all, are counterproductive in the first place. Raising levies on imports simply increases costs for domestic consumers, more than offsetting the benefits that local producers may enjoy from the higher prices they receive from the shift in spending. The best solution is just to stand aloof from this contest of economic self-harm, however much you’re provoked. That’s the case with most economies — but China, which has announced a 34% import tax against all US goods in response to President Donald Trump’s tariff blitz earlier last Wednesday, may be a rare exception. That’s because the world’s biggest manufacturer has spent decades building an economy that’s already largely war-proofed against blowback from its own trade practices. Consider the main items the nations trade with each other. The major products that the US imports from China are mostly things you’ll find in a Walmart Inc., at a shopping mall, or on Amazon.com Inc.: smartphones, computers, games consoles, furniture, toys and clothing. Slap a 54% tariff on these items, as Trump has done, and American consumers are going to notice pretty soon.

reciprocal tariffs" on more than 200 nations. The majority of countries received a standard tariff rate of 10%, while others were imposed tailored rates according to a given formula created by the US Trade Representative (USTR). This equation, designed to balance trade imbalances, establishes tariffs based on import, export, and demand elasticity factors. The following is a detailed explanation of how the Trump Tariff equation operates and what it implies for international commerce, as mentioned in a report by USA Today.

reciprocal tariffs imposed by the US and has a first mover advantage as compared to other countries because of the Bilateral Trade Agreement (BTA) that the two are negotiating, officials said, adding that Indian exporters are better positioned to deal with the additional US tariffs as compared to their competitors. The country, they said, will take all measures to check dumping of goods from China as Beijing is slapped with steeper tariffs and work within the World Trade Organization (WTO) framework to prevent the dumping of excess capacity into its markets by countries hit by high US tariffs. “The government is there to protect domestic industry from any possibility of dumping of goods in such a situation,” said an official. New Delhi is also exploring measures to protect sensitive sectors like dairy and agriculture amid the trade war. While the reciprocal tariffs on India are 26%, those on China are 34%. India is also likely to gain from the US-China trade war.

US Secretary of State Marco Rubio said while America is willing to continue to help those affected by the Myanmar earthquake, other countries should also pitch in to provide humanitarian assistance during such crises worldwide. «Well, we're not the government of the world. No, we will provide humanitarian assistance just like everybody else does and do it the best we can. But we also have other needs we have to balance that against. We're not walking away from humanitarian assistance,» Rubio told the media at NATO Headquarters in Brussels on Friday. Rubio was responding to a question about the earthquake and how the US offered help during such incidents by saving lives on the ground through special equipment and experts. Rubio was asked if that was not happening because of the dismantling of the United States Agency for International Development (USAID). «There's a lot of other rich countries in the world. They should all be pitching in. We're going to do our part. We already have people there, we'll have more people there. We'll help as much as we can. It's not the easiest place to work. They have a military junta that doesn't like us and doesn't necessarily allow us to operate in that country the way we want to. That would have impeded our response no matter what,» he said.

Brunner eschews conventional plotting. Instead, we get postcards from the future, a world on fire, ravaged by climate change and ecocide.

Why are bank stocks crashing globally even though Trump’s tariffs don’t target them?- If you've been keeping an eye on the stock market, you probably noticed a wild swing recently—especially in the banking sector. Billions of dollars have vanished from global banks, and the confusion is real. You might be asking: Wait, aren’t Trump’s tariffs aimed at goods? Why are banks bleeding? That’s the heart of the issue. While President Donald Trump’s new tariff walls—reportedly the toughest in a century—don’t hit banks directly, the ripple effects are enough to spook the financial world. And the selloff we’re seeing now? It’s not just a blip. It could be the early signs of something much bigger, potentially tipping the global economy toward a 2025 recession.

It looked like a classic case of markets reacting to political risk. But Treasury Secretary Scott Bessent sees it differently. He’s pointing to something else entirely: the tech sector’s infatuation with artificial intelligence.

The worldwide sell-off for financial markets slammed into a higher, scarier gear

Is Trump actually playing a strategic ‘chess’ game—and are we all just pawns? On April 2, Trump unveiled sweeping new tariffs on foreign imports, calling the day “Liberation Day” for American industry. The move includes a 25% tariff on all foreign-made cars and a baseline 10% tariff on imports from every country not part of the USMCA trade deal—leaving the EU, UK, and others scrambling to respond. China, of course, fired back with a 34% tariff on U.S. goods. But as the political fallout begins to swirl, a viral social media theory is giving the chaos a dramatic twist.

US stock market has slipped into its worst crisis since Covid as bear market fear sets in Wall Street investors. Nasdaq composite dropped 5.8 per cent, Dow Jones Industrial Average plunged 5.5 per cent, and S&P 500 fell 6 per cent. The losses came after China matched President Donald Trump’s big raise in tariffs announced earlier this week. Not even a better-than-expected report on the U.S. job market was enough to stop worries about the escalating trade war possibly causing a recession. The head of the Federal Reserve also warned about how tariffs can push up on inflation. On Friday, S&P 500 fell 322.44 points to 5,074.08, Dow Jones Industrial Average dropped 2,231.07 points to 38,314.86, and Nasdaq composite sank 962.82 points to 15,587.79. Russell 2000 index of smaller companies fell 83.51 points, or 4.4 per cent, to 1,827.03. For the week, S&P 500 is down 506.86 points, or 9.1 per cent, Dow is down 3,269.04 points, or 7.9 per cent, Nasdaq is down 1,735.20 points, or 10 per cent, and Russell 2000 is down 196.24 points, or 9.7 per cent. For the year, S&P 500 is down 807.55 points, or 13.7 per cent, Dow is down 4,229.36 points, or 9.9 per cent, Nasdaq is down 3,723.01 points, or 19.3 per cent, and Russell 2000 is down 403.13 points, or 18.1 per cent.

tariff rate of 10% on countries across the globe, big and small. From the imposed reciprocal tariff rates, Asia and Europe on the higher end of the tariff scale. In Asia, the highest rate of reciprocal tariff is on Cambodia and Vietnam. India faces reciprocal tariffs of 27% while China faces reciprocal tariffs of 34%. Indonesia and Taiwan are facing higher tariffs than India at 32%. Mexico and Canada are exempted from new tariffs, while the previously announced 25% tariff on autos is to take effect from April 3, 2025. Reciprocal tariffs to the equivalent of ~50% of combined estimated rate of tariff and non-tariff barriers faced by US exports in the respective countries have been announced. A retaliation might put the global economy in a trade war. The efforts to reach a bilateral agreement between India-USA provides hope and scope to limit the impact of these reciprocal tariffs levied on India.